1 Jennifer, a former Chartered Accountant is the recipient of a Cash Pot ticket which, when cashed yields approximately $25,000.
2 Jennifer has been developing an agricultural practice on the side, which she intends to continue with in the future.
At this time, she has sprouted turmeric, ginger, tomato, and some other seeds. She will make some of these available to Rich/Dave/Mike (anyone of 3) and they will share the income in the future.
Currently she treats the agricultural practice as Business Development.
3 Jennifer resides in an area which is subject to inclement weather and other disturbances.
4 Out of her monthly drawdowns, Jennifer intends to contribute to the place where she will continue to practice and hold her agricultural supplies
5 Jennifer intends to use the cash received in #1, over a twenty four (24) month period starting from the date on which the ticket is cashed, of Sept 16, 2017.
6 On day 1 of the receipt of cash and in each subsequent month on a similar date, Jennifer will take a drawdown for personal use which she will use to meet food needs and any other needs as identified in the assumptions. One can use a value of $600 as the monthly drawdown for Personal use.
7 Jennifer will take ten (10) months allocation of Business Development Funds on day 1 of the receipt of cash with the next drawdown on a date to be determined.
8 The minimum amount which the bank will be accepting with respect to fixed deposit placements is TT$5,000 and for short terms of three (3) months, six (6) months or nine (9) months.
9 Jennifer intends to hold $800 as emergency funds.
10 Jennifer has incurred debt to a third party and intends to repay the debt over time.
As a commitment to repaying her debt, on Sept 17, 2017 she pays "Rick" (an associate of RIch/Dave/Mike) $5,000 with a request to handle the payment for her.
She also provides him with about 20 mini lime/lemon trees, about five (5) avocado trees which have sprouted roots, with the intention that she hands him more sprouted seeds as they develop.
1 Develop a Cash Flow, Financial Plan and any other Plan which you see as necessary for Jennifer which will take her through the use of her $20,000 receipt as identified in #1.
2 Identify any practices which you see Jennifer adopting to develop skills and practice her learnings during the twenty four month period.
3 State your assumptions.
I meet persons with different skills, ideas and experience and very often we apply and conceptualize things differently.
For some persons, they may get stuck with the small values which are described above and may experience difficulty moving into providing a response.
Some persons may question the expectations and may not see some of the opportunities which are available.
Some persons may excel at this type of scenario and some may use words to respond and yet others may write their responses.
Feel free to comment on this, practice a working or an essay and let me know what moved you.